Partners Group acquires Empira
With the takeover of the international real estate investment manager based in Switzerland, Partners Group intends to prepare itself for a period of upheaval on the real estate markets and deepen its operational base.
The financial investor Partners Group, based in the canton of Zug, is acquiring the real estate investment platform Empira Group. Founded in 2014, the company is also headquartered in Switzerland and reportedly has a portfolio with a gross development value (GDV) of around EUR 14 billion. Empira invests in residential real estate in Europe - particularly in Germany - and in the USA. The investment manager also focuses on sustainable renovations and real estate loans. Its financing offerings include senior and subordinated loans, whole loan financing, mezzanine financing, preferred equity and joint venture investments. With 250 employees in 13 locations worldwide, Empira covers the real estate life cycle with acquisition, development, fund management and operations. Following the takeover, the company will continue to operate under its brand as part of the Partners Group "with the ambition of creating a pan-European platform", according to a press release.
Focus on living and sustainability
The transaction is expected to be completed in the first half of 2025, subject to regulatory approvals, according to the statement. Partners Group justifies the acquisition with a "phase of upheaval" in the real estate markets. "In order to continue to generate attractive returns for clients, the focus is increasingly on investments with transformation potential and operational excellence," it says. Partners Group is therefore concentrating its operational growth on fund managers and operators in the residential and logistics sectors. Key megatrends such as "new living" and "decarbonization and sustainability" are to be addressed, as well as demand-related factors such as migration, hybrid working and the undersupply of affordable and high-quality rental housing for a growing generation of tenants. "These topics require a high level of operational effort and active management", whereby Partners Group will benefit from Empira's expertise and operational depth in the future.
Partners Group's third real estate acquisition
The acquisition of Empira Group by Partners Group follows two other acquisitions: In February 2024, Partners Group invested in Citivale, a UK real estate developer and asset manager for logistics properties. This was followed in April 2024 by the investment in Trinity Investments, a US real estate investor with a focus on the hotel industry. Partners Group's real estate business has a global portfolio with a GDV of USD 43 billion and assets under management (AuM) of USD 15.9 billion. (aw)
